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€15bn Chinese funding deal for tunnel between the Estonian and Finnish capitals

cde.news desk · 1 min read
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epa07419493 A Finnish flag flutters in wind with the Cathedral on the background in downtown Finland's capital Helsinki, Finland, 22 September 2019. EPA-EFE/MAURITZ ANTIN

 

A proposed link between the Estonian and Finnish capitals might benefit from China’s Belt and Road initiative.
A private firm looking to construct a tunnel linking Tallinn and Helsinki is set to receive some 15 billion euros from a firm helping to advance China’s Belt and Road initiative.

The money will be provided by Touchstone Capital Partners as and when needed. Roughly one-third of the money is an equity investment, with the remaining two-thirds to be a loan.

FinEstBay, the company behind the project, says the project will run from Helsinki Airport to Tallinn airport and expect trains to be running by Christmas Eve 2024.”

That challenging timetable has raised eyebrows, with several planning stages including environmental impact studies still to be completed.

Peter Vesterbacka of FinEstBay says that FinEstBay will remain majority Finnish-owned as there is a desire to not have too much Chinese money invested in Finland.

Via Yle News Finland

Topics Belt and Road InitiativeChinaFinEstBayFinlandHelsinkiTallinn